Kreston International Isle of Man member, BW Oakfield Group Expands into Malta

May 1, 2012

Kreston International Isle of Man member, BW Oakfield Group Expands into Maltabw oakfield group

Kreston’s Isle of Man member, BW Oakfield Group (BWO) has announced the acquisition of Momentum Pensions Ltd, an Isle of Man based Pension provider, together with the acquisition of a controlling interest in Momentum Pensions Malta Limited, which expands the groups distribution across Europe.

The transaction requires regulatory approval, but combines the expertise of both Groups, in the provision of QROPS, QNUPS and International Pensions.

The transaction will be undertaken through BW Oakfield Group’s subsidiary, Kreston Pensions (Isle of Man) LTD.

Managing Director Stewart Davies said, “This is a fantastic opportunity for us to expand our Pension offering beyond the Isle of Man and into Europe, and gives customers and advisors a choice of jurisdiction for their retirement savings. Momentum Pensions have quietly established themselves as a leading multi jurisdictional pension provider and we are excited to now build upon this utilising our Group infrastructure. We will also then be in a position to market those services to the significant Kreston European Network.”

Mark Gaywood, Managing Director of Momentum Pensions Group said,

“We are delighted to be working with BW Oakfield Group and Kreston International, not least due to the significant distribution available through the Network. The transaction also gives us additional critical mass and back office capability which is exciting given the opportunities that lie ahead, particularly with our regulated pension business in Malta”
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